Raw-Sugar Prices Drop to 7-Month Low

Production Has Surpassed Consumption Since 2010

Sugar prices sank more than 3% to a seven-month low on Thursday as the world heads for its fourth consecutive year of extra sweetener.

Production has surpassed consumption since 2010, and the International Sugar Organization expects a supply surplus of about 4 million metric tons in the year ending Sept. 30. Last week, the ISO predicted production would exceed demand next year as well, although by a smaller 1.3 million-ton margin.